The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-10-02
RICHES INSTEAD OF FAME
The Attractions of Business Instead of
Politics to Public Men of Brains.
The Achievements of Conkling. Ingersoll and
Russell Sage-Tom Reed, of Maine. and
Patrick Collins Likely to Follow Them.

Special TO the indianapolis journal Copyrfghtl
WAsHINGToN. Sept. ENTHUSIASTICALLY
some basis exists for the report that Tom Reed.
the leader of the Republican side of the House
of Representatives. contemplates quitting Con-
gress at the end Of this term and taking up ac-
tive business life 10 New York. 1t has been
said that Mr.. Reed. if he could have made just
the business connections that he desired. would
have resigned his seat this fall.
He is certainly greatly pleased with what he
has already learned of business life in New
York, and has expressed himself satisfied
that man Of fair talents and his experience can
go there and make money. l happened to be in
New York some weeks ago, and as was enter
ing the great Mills building almost into
Mr.. Reeds arms. He never seemed SO busy
when in Congress. He wore the earnest look
of the brokers who cram the business that would
require many mon month to do into a few
hours. His step was light. He had memo
rendum book in his hand, and he had been look
ing at a ticket.
We chatted a few minutes and he then said
enough. though indirectly, to justify surmise
that he was engaged in what 90 him was a new
and delightful experience. and then he rushed
away across the street just if he were going
to place an order to buy or sell q good block of
stock.
Many reasons would naturally lead Reed to
take this step. He has been in Congress ten
years. and what has he wonl Reputation for
thing. He is easily the leader of his party.
and has been for some years. If the party was
in the majority he would be the next Speaker
without making any special effort for 1t. But
he realizes that just he is turning fifty he has
political future, things look now to him.
He cannot hope to enter the Senate so long as
Frye ana Hale remain in politics, and he chafes
and frets under the shadow which Blaines
magnificent personality and influence in the Re-
publican party casts over every kepu ocan in
Maine, and. in fact, in New England He has
gained reputation, then, for brilliancy, wit, Wis
dom. caution and the ability to lead. But that
doesn't bring him bank account, and will not
so long ae he remains in the House.
Reed, in conversation with his intimates of
late. has spoken in a manner that indicates that
he believed that the time has come for his
abilities to bring him something more substan-
tial than mere reputation, especially such
ephemeral regulations az those made by politi-
clans usually If he is ever going to make
himself independent he undou btedIy feels that
now is the time and New York the place. aud
Wall street the field Some of Reeds friends
think that if he master his predispostion to
Incidence he will prove to be as shrewd an oper-
ator ever went upon the street, and he has
immense advantage over lambs who go
there. He has been SO long member of the
judiciary committee and has had SO many occa-
sons to make those railroads which have been
subsidized by the government q subject of study
that he is master of the subject
Reed has reached that point in his career
where he has learned thai there is good deal
more content to be found in riches than in polit
ical fame and he is inclined to think that the
same abilities which have brought him political
repute can be capitalized into hard cash If he
chooses to them in that direction.
Very likely Reed has had his attention turned
in tine direction of money making In New York
by the experiences of somo OF his former asso
ciates in Congress Reed seems to have come
to time in the caresr OF politicians who have
won some successes, when they suddenly check
that career and begin new ono in business.
and the tendency of many OF them is to settle
in New York.
Whom Reed on his last visit to New York
bumped against Tom Ewing on Wall street
he met d very different man from the needy and
almost seedy member of The House that Ewing
He regarded particularly bright
man. He had back of his own abilities the
splendid prestige of his fathers name He was
related to Blaine and the Shermans. But when
he retired from politics defeated candidate
for Governor of Ohio, it was generally suspected
that Tom Ewing was fat on his back If he
wasn't he near it that he wasn't
happy. He showed the old Ewing blood that
in him. however. by turning a square cor
nor, breaking away from all his homo associa-
tons and striking out anew in New York. And
he is now a happy man, and needed not to
assure Tom Reed of his success here. He hasn't
made great future but ne makes a handsome
income is Independent and has as good time
any man ought to ask.
Then there Milton H. Sayler, another
Ohio man, who ten years ago was prominent
enough in politics to be elected Speaker of the
House after Speaker Kerr's death. He made
reputation that was valuable. The highest
honors were predicted for him. but he. too. dis
covered that politics make the most unstable
foundation for any man to stand upon when he
goes into it to make money-a risky thing now
adays. Sayler. too, pulled up root and branch.
turned his back upon politics with disgust and
went to New York. He struck the nail squarely
the head when he did SO, and prosperous
and happy man he became.
Frank Hurd, though he has not taken up his
legal residence in New York, and has by no
means given up his political ambitions. makes
the city his business headquarters. and ia earn
ing very handsome fees. principally as one of
counsel for John w. Mackey and Ed Stokes liz
their vast cable and other enterprises. Hurd,
however. does not seenl TO apply himself very
vigorously to professional labors. He is fairly
well off and is bachelor, with no expensive
habits except fondCess for choice and rare
books upon financial and economic subjects.
The story of Conking's colossal success In the
elk wears since he Quit Congress and took up his
residence in New York is well known, but Mr.
Hurd, who knows something about Conkiines
fees. Is Inclined to think that the amount OF his
earnings has been understated rather than over.
Mr.. Hurd is disposed TO place the sum that
Conkling has earned in the past fifteen months
at nearly 5000 900. Probably such glittering
success by who quit politics to take up bust
ness activity in New York city has been paral-
leled by only man. and his success has been
far greater than Conkling's. That is Russell
Sage, who represented the Troy district in Con
gress and gave NJ his seat when he was barely
fifty to go into the whirlpool OF the New York
stock market. He swan it safely, ana brought
out of it one of the colossal fortunes OF the
world.
Another or MIR. Reed S FORMER friends IN Con-
gress who Quit CONGRESS to 60 to New York.
Scott Lord, who recently died. Mr.. Lord
once a law partner of Roscoe Conkiing. in
Utica. He was Democrat. He was elected
from the Utica district to Congress- ten years
ago. and found when he had finished his term
that his practice in Utica seriously ell
croached upon. He decided to locate IN New
York CITY, and in three years had built up a
practice that paid him more than twenty years
IN Utica had. 1t is said that one fee he received
was $40. 900.
Gen Patrick Collins, of Boston, the brilliant
Irish-Am erican, found at the end of his second
term in Congress that there was plenty of fun
and glory in the experience but an appalling
amount of expense, besides a serious danger to
his professional business in Boston. He made
up his mind under circumstances 70 return to
Congress. and was very strongly urged by proml-
nent to establish himself in business in
New York. 1t is possible that be will make
business connection there, but will retain his
residence in Boston. Collins very UNEXPECTEDLY
tfr,llr 1ala cd IN "